SOUTH Australian companies are open to expanding business with the Philippines as they view the country as a highly prospective market, rich with trade and investment opportunities across several strategic industries.
In a breakfast meeting on Friday, South Australia Minister for Investment and Trade Martin Hamilton-Smith said there were increasing opportunities for closer engagement between South Australia and the Philippines, one of the fastest growing economies in Southeast Asia, in several areas.
These included the supply of premium food and wine; supply of commodities such as wheat, dairy, fruit and vegetables; provision of education and training; professional services and development assistance; oil, gas and mineral exploration and provision of associated services and technologies.
Hamilton-Smith was in the country over the weekend to lead South Australia’s first business mission to the Philippines. Companies that are keen on establishing their presence in the country and partner with local firms included law firm Doconade Legal & Migration; MIRA Migration Services; wine producer CMV Farms; medical grade equipment supplier Soniclean; Port Pirie Regional Council, which seeks to highlight its businesses in grain, feeds, dairy, wine, and e-waste; Gibson Wines; consulting firm Jacquillard Minns Pty Ltd.; SACE Board of SA; Global Horticulture Trading Pty. Ltd.; Adelaide Airport Ltd.; Hydroil Pty. Ltd. & Premier Proline, which manufactures hydraulic and pneumatic cylinders, and Alpha Box & Dice.
“This mission is a commitment by South Australia not only to develop relationships for industry, but also to strengthen government to government links. We are keen to build on our relationship with the Philippine government,” Hamilton-Smith said.
“We want to have a closer engagement with the Philippines which is why we have put together a Southeast Asia team dedicated to the implementation and oversight of our strategy. We (also) hope to see Philippine business representatives in Adelaide soon,” he added.
According to the investment and trade minister, both the Australian and Philippine governments are working on the national level to further improve trading arrangements and the bilateral export businesses. The target was to sign memoranda of understanding with the Philippine government and the private sector for potential cooperation.